Search - considered

If this is not accepted by the taxpayer, the application of subsection 15(1) should be considered. 2. ... However, if the consideration for all properties transferred is taken into account, no benefit may be considered to have been conferred. ... If he fails or refuses to provide them within a reasonable time period, the election could be considered invalid. ...

Whether a business ceases is dependent upon factors such as the following: i) sale of all inventory ii) dismissal of all employees iii) vacation of the business premises The sale of all fixed assets of a business is not considered a mandatory requirement for the cessation of a business if it can otherwise be established to have ceased. Paragraph 5 offers some specific examples of business operations that are considered to be of the same kind. ... The department's criteria as outlined in IT-376 were considered by the courts in Yarmouth Industrial Leasing Limited v. ...

You have requested our comments related to the following questions: 1) Will the shares of Holdco be considered to be shares of a small business corporation as defined in subsection 248(1) of the Act and as such be considered to be QSBCS's in the above situation? ... The partnership interest and the loan to the partnership will both be considered to be "assets that were used in an active business carried on primarily in Canada by the particular corporation". ... As such, provided the other requirements in the definition of QSBCS in subsection 110.6(1) are met, the shares of Holdco will be considered to be QSBCS's. ...

You have requested that we provide our comments as to whether the taxpayer, in the situations described below, would be considered to derive all or substantially all of his revenue from the prosecution of or sale of rights in or arising out of SR & ED. ... Should the taxpayer derive his revenue in the manner described in examples 3 and 4 above, it is our view that the income would generally be considered to have been derived from the prosecution of SR & ED. ... Accordingly, this revenue would not be considered to have been derived from the prosecution of or sale of rights in or arising out of SR & ED. ...

Our Comments It is our view that where cash that is temporarily surplus to the needs of a business is invested in short-term income-producing investments those investments may be considered to be used in the business. Where on the other hand substantial amounts of cash and deposits which are obviously in excess of that required for use in the business are retained in the corporation on a permanent basis, they would not be considered to be funds used in the business. Rather such funds would be considered as permanently set aside for investment or non-qualified uses (i.e. uses other than in an active business). ...

Will cash accumulated in order to pay bonus to shareholder considered to be assets used in an active business? ... Cash or near cash property is considered to be used principally in the business if its withdrawal would destabilize the business. 3. ... " Income from property that is employed or risked in a corporation's business operations is considered to be active business income. ...

If this is the case, then the business income could be considered active business income for the purposes of the small business deduction. ... " Consequently, the corporation would likely be considered to be carrying on an active business and, if all the other criteria were met, would be entitled to the small business deduction. It should be noted that the "principal purpose" of a corporation must be determined annually after all the facts relating to the business carried on by that corporation in that year have been considered and analyzed. ...

Are exchangeable securities of an underlying entity of a SIFT entity that are issued in 2007 but not converted to units of the SIFT entity before the end of 2008 also considered to be growth for 2008? ... In other words, you would like to know whether exchangeable securities issued in 2007 but not converted to units before the end of 2008 would also be considered growth of the Fund for 2008. ... With respect to your second question, we agree that exchangeable securities will only be considered as growth for the particular taxation year in which the exchangeable security was issued. ...

NEX is located in Canada; therefore, the only remaining question is whether NEX is considered to be a ‘stock exchange’. ... We also looked at whether NEX is considered a stock exchange under Canadian securities legislation. ... Based on this, NEX would also be considered a “stock exchange” from a commercial point of view. ...

Your main question is whether the refinancing in 2013 would be considered to result in a "substantial increase in the indebtedness of the Partnership" within the meaning of subsection 40(3.15) of the Act. If so, an interest in the Partnership will not be considered an excluded interest unless the deeming rule in paragraph 40(3.16)(d) of the Act applies. ... As indicated above, this would mean that the Partnership's indebtedness would actually be considered to have gone down rather than increased. ...